Below is part of the news release from the FPT ministers meeting last week. They’ve reached an agreement and inject new funds to support the sector.
This week, the federal, provincial, and territorial (FPT) Ministers of Agriculture reached an agreement in principle for the Sustainable Canadian Agricultural Partnership at their Annual Meeting in Saskatoon, Saskatchewan. This new five-year agreement will inject $500 million in new funds, representing a 25% increase in the cost-shared portion of the partnership.
To enhance economic sustainability, Ministers agreed to improve Business Risk Management (BRM) programs, including raising the AgriStability compensation rate from 70% to 80%. Under the cost-shared envelope, they agreed in principle to the $250 million Resilient Agricultural Landscape Program to support ecological goods and services provided by the agriculture sector.
The new agreement includes stronger targets such as a 3-5 MT reduction in greenhouse gas emissions, increasing sector competitiveness, revenue and exports, and increased participation of Indigenous Peoples, women and youth. There will also be a focus on measuring the results of framework investments.